On 6 October 2022, as part of the ongoing work of the OECD/G20 Inclusive Framework (“IF”) on Base Erosion and Profit Shifting (“BEPS”) to implement the Two-Pillar solution to address the tax challenges arising from the digitalisation of the economy, the OECD released its progress report for comment. Background The report was prepared for the purposes of obtaining further input from stakeholders on the administration and tax certainty aspects of Amount A ...
Please be informed that new Federal Law No. 332-FZ (“Law”) was passed on 14 July 2022 allowing the landlords to claim from the tenant the average monthly rent or to terminate the lease if the tenant's commercial activities are suspended. The Law establishes specific conditions under which the average rent could be claimed, imposes restrictions on landlord's right to terminate the lease agreement if foreign control over the lessee is terminated ...
RENT UPDATE COEFFICIENT FOR 2023 Law no. 19/2022 was published in Diário da República (Official Journal) on 21 October 2022 and, among other measures, it establishes the rent update coefficient for the calendar year of 2023. During the next year, the annual update coefficient for rents of the several types of leases, both urban and rural, established in article 24 of Law no. 6/2006 of 27 February, which approved the New Urban Lease Regime (NRAU), will not apply ...
The Bangko Sentral ng Pilipinas (“BSP”; the Philippine Central Bank) issued BSP Circular No. 1149, series of 2022 (Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks). The Circular sets expectations on the prudent conduct of investment activities, as well as minimum practices that banks must establish for the management and control of investment-related risks ...
pMany development authorities and other economic or industrial development authorities in the State of Georgia (each, an “Authority”) offer “Economic Development and Incentive” programs for private companies which commit to make new capital investments that promote trade and commerce and provide new employment or retain existing employment ...
According to news reports issued on October 16, 2022, to further facilitate foreign capital investment in China A shares, the China Securities Regulatory Commission ("CSRC") is considering formulating a special exemption rule for the short swing profit rule ("SSPR")[1] for foreign investors (e.g. qualified foreign investors/QFIs and foreign investors under the Stock Connect scheme) ...
With the end of the year just around the corner, it’s a good time to reassess plans and action-items. When reviewing your year-end estate planning or business transition concerns, there are several things to contemplate and review, such as year-end gift giving and tax considerations. Below is a list of items we’ve identified that you might want to consider as you plan for the end of the year and future transitions ...
On Aug. 16, President Joe Biden signed into law the Inflation Reduction Act (IRA) of 2022. Although it garnered headlines mostly for its $80 billion commitment to the Internal Revenue Service, the IRA went a long way toward providing tax incentives to real estate and related industries. Selecting a few primary issues from the IRA, as with any large-scale legislation, can be a challenge ...
This article focuses on the key aspects of the New Homes Quality Code (NHQC), which developers must consider and implement at the reservation and pre-contract stages ...
What’s happened? Pursuant to a circular issued by the Dubai Land Department on 23 September 2022, the registration of all co-occupants that reside in residential properties in the Emirate of Dubai, whether owned or rented, must be completed today. Who does this apply to? The circular issued by the Dubai Land Department applies to real estate developers, real estate leasing and management companies, real estate owners and tenants ...
Kudun and Partners was invited by the Chartered Institute of Arbitrators (CIArb) Thailand branch to host and provide the opening remarks for CIArb’s first in-person event in several years featuring guest speakers, Kevin Nash, SIAC Registrar and Dr. Vanina Sucharitkul, Chair of the CIArb Thailand Branch ...
Levelling up was barely mentioned in the recent “mini budget”, reports say barely any of the levelling up funds have actually been spent and figures show that since the first time then PM Boris Johnson uttered those two words “levelling up” in 2020, our regional cities continue to lag behind the capital. Investment is 23% lower, take up 12% lower and average rents a whopping 54% lower ...
The global trading system has been pushed to its limits since Russia’s invasion of Ukraine 7 months ago. Olesia Kryvetska, a counsel with Asters law firm and head of the Ukrainian Bar Association’s International Trade Law Committee, details the heaviest implications since the beginning of the war, namely soaring commodity and energy prices, food security crises, and supply chain disruptions ...
In a joint statement made by the UAE Ministry of Economy and the UAE Ministry of Justice the implementation of the new Anti-Money Laundering reporting requirements, which are set out in Circular No. 5/2022 (the ‘Circular’) and which will apply to specific (cash and virtual currency related) real estate transactions that are conducted in the UAE, was announced over the summer. As outlined in the Circular, these additional reporting requirements are now in force from 1 July 2022 ...
In a recent interview with Mexico Business News, WSG Member Eduardo Kleinberg, Managing Partner at Basham, Ringe y Correa, provided insights on the importance of IP law to ensure a company’s longevity and success. And, discussed how lack of government oversight, support and follow-through of IP Law can result in a country disincentivizing innovation, domestic competitiveness and international investment ...
What’s happened? On 22 July 2022 Dubai Decree No. 22/2022 (the Decree) came into force with the purpose of encouraging further investment in the Dubai real estate market via the provision of various incentives and privileges aimed towards real estate investment funds ...
Since February 2022, Russia has adopted a number of regulations that aim to restrict real estate transactions involving persons/entities from certain foreign states. Such transactions require specific governmental approval prior to their conclusion. Further regulation has provided a number of exceptions to the previous prohibitions ...
The California Department of Housing and Community Development (HCD) has remained active in enforcing state housing laws through its Accountability and Enforcement unit. Notably, HCD has focused its attention on larger, coastal cities – most recently, the cities of San Diego and San Francisco ...
Customs AlertEnhancement of Monetary Limits gives relief to Importers and Exporters from Arrest and Prosecution Arrest and Prosecution are the most feared weapons in the armory of the Tax administrator. The recent guidelines introduced by the Government, put restraints on the manner of exercise of these powers to rule out arbitrariness, unfairness and to restrict such actions to serious offenders ...
The SBA has published a notice of “Tribal Consultation for Ownership and Control and Contractual Assistance; Requirements for the 8(a) Business Development (BD) Program and other Planned 8(a) BD Program Regulatory Proposals.” The notice states that SBA is “planning to issue a proposed rule concerning the 8(a) BD program regulations . . ...
On Thursday, August 19, 2022, as mandated by Executive Order 14063, issued by President Biden February 4, the Federal Acquisition Regulatory Council proposed a rule to amend the Federal Acquisition Regulations (FARs) to require that federal contractors and their subcontractors enter into project labor agreements (PLAs) with unions as a condition to receiving federal construction contracts worth $35 million or more ...
On Thursday, August 19, 2022, as mandated by Executive Order 14063, issued by President Biden February 4, the Federal Acquisition Regulatory Council proposed a rule to amend the Federal Acquisition Regulations (FARs) to require that federal contractors and their subcontractors enter into project labor agreements (PLAs) with unions as a condition to receiving federal construction contracts worth $35 million or more ...
At the end of July, the 11th Circuit Court of Appeals affirmed the dismissal of a roofing contractor’s complaint against another roofing contractor for allegedly interfering with its contract with a condominium association for roof repairs relating to Hurricane Irma. The case illustrates the importance of timing and advancing work related to insurance claims and should serve as a warning to those that regularly wait on insurance payments before beginning work ...
